It really is just about that simple. They did not adapt. They tried to prop up the malls by themselves. Pretty soon most malls(if still around) won’t have anchor stores. They will be all speciality shops. If the malls survive at all. Their will be malls that probably do well but the majority of malls are failing. I live in a average size city. We had about 8 malls about 10 years ago. 3 are out of business 2 more are in pretty bad shape. The others are high end malls. We will have to see how they deal with the hit from the virus.
Malls overall are a dying.
Does anyone know of a new indoor mall being constructed? Anywhere in the US? I’m sure there are a few but it is not a viable business model anymore. The property and building aren’t even worth anything. These malls that go out of business get bulldozed. The company’s purchasing closed down malls do not even use the existing structure. They bulldoze it an build condos or something completely different.
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